REVIEW: BANKNOTES 24-25 NOVEMBER

It was 30 years ago that Laurence Pope began collecting paper money after a spring holiday to Portugal, where he became enchanted by the beautiful banknotes.

“Later I discovered that she had issued paper money for eight of her colonies and began collecting everything I could from her overseas bank, the Banco Nacional Ultramarino.”

Pope went on to co-write the catalogue, The Portuguese African Paper Money of the Banco Nacional Ultramarino, part sponsored by the third-party grading company PMG.

It was the obverse and reverse uniface colour trials for a 50 Rupias note from the Portuguese Indian branch of the bank, dated 1924 and from Pope’s collection, that provided the cover lot for this sale’s catalogue; fittingly, it went on to become the top lot in the sale at a hammer price of £22,000 – more than three times its top estimate of £7,000.

Each face had a section removed from the left margin, and both removed sections were included in the lot, having been stuck to a sheet of paper addressed to Mr. Gough at the B.N.U. Nova Goa, with the note ‘These are approved colours for the Rs100’, and signed and dated 10 October 1942. The most remarkable part of the story is that it was Mr Pope who reunited the colour trials and the letter, with attached pieces, several years ago, after almost a century apart.

Presented in conjoined PMG holders, these choice and uncirculated trials came with the extra sheet also in PMG holder to complete a unique trio of items that form an important part of the history of this series.